Tridge Revenue, Valuation, Funding & Investors

Tridge is valued at $2.7B as of August 2022.

Last Tridge valuation

$2.7B

Series D · Aug 2022

Last Tridge funding round

$38M

Series D · Aug 2022

Tridge revenue

$89M

Series C · Jul 2021

Key investors in Tridge

  • Forest Partners
  • SBVA
  • Activant Capital
  • DS Asset Management

Tridge Overview

About Tridge

Tridge is a Seoul-headquartered platform connecting food and agriculture buyers with sellers across 150 countries. Its marketplace facilitates sourcing from research through ordering, offering price analytics, quality verification, and logistics for commodities like fruits, grains, and seafood. The company processes over $2 billion in annual trade volume, serving importers in North America, Europe, and Asia with tools for supply chain transparency.


Founded

2015

HQ

South KoreaSeoul

Website

tridge.com

Status

Privately held

Customer focus

B2B

Revenue model

Commission

Revenue

$89M (Jul 2021)

Valuation

$2.7B (Aug 2022)

Tridge Valuation

Tridge is currently valued at $2.7B, based on its Series D in August 2022.

The $38M round was led by DS Asset Management.

Tridge's valuation has grown 19x from $140M at its Series B in April 2020 to $2.7B in August 2022, across 3 priced rounds.

Tridge valuation by funding round

Revenue multiple
Tridge valuation by funding round
DateStageValuationRevenue Multiple
Aug 2022Series D$2.7B-
Jul 2021Series C$500M5.6x
Apr 2020Series B$140M-

Tridge Revenue

Tridge's latest recorded revenue is $89M, as of its Series C in July 2021. At a $500M valuation, that implies a 5.6x revenue multiple.

Tridge revenue by funding round

Tridge revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jul 2021$89M$500M5.6xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Tridge Funding History

Tridge has raised a total of $114M across 4 funding rounds.

Tridge's first fundraising round was a $6M Series A in November 2019. The most recent completed round was a $38M Series D in August 2022.

Tridge funding rounds

Tridge funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2022Series DDS Asset Management (lead)$38M$2.7BTridge is a Seoul-based global agtech company operating a comprehensive agricultural platform that digitizes market intelligence and fulfillment services, connecting buyers and sellers of agricultural products across 150 countries, eliminating intermediaries, and providing data on seasonality, production, and trade to facilitate efficient global trade and enhance food security. On August 25, 2022, Tridge closed a $37 million (or $37.2M) Series D funding round led by DS Asset Management, bringing total equity funding to nearly $120M or $111.7M since 2015, with the post-money valuation reaching $2.7 billion, a 5.4x increase from the prior $500M valuation after its $60M Series C in July 2021 backed by Forest Partners and others including SoftBank Ventures Asia and Activant Capital. The funding will support expansion of services, technology investments, and international growth focusing on markets like the U.S., Europe, Turkey, Brazil, India, Vietnam, and Tanzania, where Tridge has offices in 45 countries and employs about 600 people. The platform now has over 400,000 subscribers and serves more than 15,000 agricultural products with over 100,000 suppliers. Traction includes fulfillment service revenues starting September 2021, with last year's sales under $7.4M (10B KRW) and current monthly sales between $15M-$23M as of the round, driven by increased transactions amid pandemic-related supply chain disruptions and demand for digital sourcing.
Jul 2021Series CForest Partners (lead)$60M$500MTridge is a Seoul-based digital platform connecting food and agriculture buyers and sellers globally, offering market intelligence, trading matchmaking, and fulfillment services to address supply chain disruptions and fragmentation in the sector. The company raised $60 million in its Series C round in July 2021 from Forest Partners, achieving a post-money valuation of $500 million, up from $140 million in its prior April 2020 round. This funding aimed to scale fulfillment services, expand physical presence with co-packing and warehousing in 50 strategic countries, and meet surging demand from pandemic-related logistics issues and travel restrictions. By the time of the Series C, Tridge had attracted 50,000 buyers since launching its core services in October 2020 and reported less than $7.4 million in sales for the previous year, with monthly sales reaching $15-23 million after September 2021. It projected fulfillment revenue of $300 million by end-2021. The platform operated in 45 countries with about 600 employees, focusing on transactions in markets like the U.S., Brazil, Turkey, India, Vietnam, Australia, Tanzania, the Netherlands, and Canada. A subsequent Series D in August 2022 raised $37.2 million at a $2.7 billion valuation, reflecting a 5.4x increase driven by revenue growth in fulfillment services, bringing total funding to $111.7 million. Backers included SoftBank Ventures Asia and Activant Capital alongside Forest Partners.
Apr 2020Series BForest Partners; SBVA; Activant Capital$11M$140MTridge is a Seoul-based agriculture marketplace that connects buyers and sellers of food and agricultural products globally, offering market intelligence, fulfillment services including purchasing, packing, and warehousing, and enabling transactions across 150 countries. The platform serves over 50,000 buyers including Walmart, Nestlé, and Kellogg’s, with a focus on reliability amid supply chain disruptions like those from the COVID-19 pandemic. In April 2020, Tridge raised $11 million from Forest Partners, U.S.-based Activant Capital, and SoftBank Ventures Asia (SBVA) at a post-money valuation of $140 million. This round preceded subsequent financings, including a $60 million Series C in July 2021 led by Forest Partners at a $500 million valuation, used to expand packing and warehousing facilities. Tridge has grown its operations to offices in 45 countries and around 600 employees, with fulfillment as its primary revenue source, though specific figures near the April 2020 round are not detailed.
Nov 2019Series ASBVA (lead); Forest Partners; Activant Capital$6M--

Who has invested in Tridge?

4 investors have backed Tridge across its funding rounds, including Forest Partners, SBVA, Activant Capital and DS Asset Management.

Lead investors include DS Asset Management, Forest Partners and SBVA.


Tridge Investors

Investors in Tridge by funding rounds participated
InvestorHQRoundsRoleFirst check
Forest PartnersSouth KoreaSeoul3LeadNov 2019
SBVASouth KoreaSeoul2LeadNov 2019

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Tridge Competitors

Tridge competitors include listed companies like TBO.com and Izumi Co, and private ones like RigUp, Jusda, Inxeption and Zetwerk.

Public and private companies comparable to Tridge
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RigUpUnited StatesAustin, TXPrivate--$2.9B-
JusdaChinaShenzhenPrivate--$2.5B-
InxeptionUnited StatesUnited StatesPrivate$300M-$3B10.0x
ZetwerkIndiaBangalorePrivate$102M$20M$3.1B-
TBO.comIndiaIndiaPublicly listed$262M$41M$1.8B5.2x
Izumi CoJapanJapanPublicly listed$3.7B$300M$1.4B0.6x

Tridge Public Comps

Tridge is still privately-owned, but its public comps include Bakkafrost, People, KWS SAAT, Olam Group, Goto Gojek Tokopedia, Andersons, Rasan, Seek, ScottsMiracle-Gro and Stubhub.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Bakkafrost$1.1B$241M3.3x3.0x14.6x10.2x
People$2.4B$122M1.3x1.6x25.4x11.3x
KWS SAAT$1.9B$371M1.3x1.3x6.9x6.3x
Olam Group$23B$1.6B0.4x0.5x6.4x7.9x
Goto Gojek Tokopedia$1B($16M)2.0x1.7x(125.5x)13.1x
Andersons$11B$315M0.3x0.3x10.5x8.0x
Rasan$174M$73M16.1x11.0x38.6x25.9x
Seek$914M($63M)4.2x4.5x(61.7x)10.2x

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Common questions about Tridge

When was Tridge founded?Tridge was founded in 2015.
Where is Tridge headquartered?Tridge is headquartered in Seoul, South Korea.
Is Tridge publicly listed?No, Tridge is a private, VC-backed company.
What is Tridge's valuation?Tridge was last valued at $2.7B in its Series D in August 2022.
How much funding has Tridge raised?Tridge has raised $114M across 4 funding rounds.
What was Tridge's last funding round?Tridge's last funding round was a $38M Series D in August 2022, led by DS Asset Management.
Who are Tridge's investors?Tridge's investors include Forest Partners, SBVA, Activant Capital and DS Asset Management.
What is Tridge's revenue?Tridge's latest recorded revenue is $89M (July 2021).
What is Tridge's revenue multiple?Tridge's latest valuation implies a 5.6x revenue multiple ($500M valuation on $89M of revenue).
Which companies are comparable to Tridge?Companies comparable to Tridge include RigUp, Jusda, Inxeption, Zetwerk, TBO.com and Izumi Co.

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